BankNifty Crashes Through All Targets – Bears in Control!

BankNifty 15m Timeframe Technical Analysis:

On the 15-minute timeframe, BankNifty has completed a spectacular short trade, smashing through all targets with strong bearish momentum. Price plunged well below the Risological dotted trendline, confirming the continued downtrend.

Key Levels:

• Entry: 51,620.00
  
• Stop Loss (SL): 51,700.75
  
• Target 1 (TP1): 51,520.15 (Done)
  
• Target 2 (TP2): 51,358.60 (Done)
  
• Target 3 (TP3): 51,197.05 (Done)
  
• Target 4 (TP4): 51,097.20 (Done)
  

Observations:
A sharp decline occurred right after entry, and price respected the Risological dotted trendline as resistance throughout the trade.
Bears dominated the session, pushing the price lower without retracing back to the trendline.

BankNifty's steep descent through all target levels underscores the market's bearish sentiment. With all targets achieved, traders may look for further downside potential or await signs of reversal.